Engineering Giant Rolls-Royce could make cuts of up to 8000 people from its 23,000 strong UK workforce as airframers slow production of aircraft.
Derby-based Rolls-Royce produces engines used by both Airbus and Boeing who are both reducing their aircraft output in the wake of the Coronavirus Pandemic.
As a result Rolls-Royce has been forced to take action and put in place plans to increase liquidity within the business and it aims to save around £750m but a spokesperson for Rolls-Royce said that they ” will need to take further action.“
They added: “We have to do this right, which means we are working closely with our employee and trade union representatives and then we will consult with everyone affected.”
Rolls-Royce produces around 35% of all jet engines used on widebody airlines such as the Boeing 787, 777 and Airbus A330 and A350 models and has been at the forefront of designing more efficient engines.
It employs over 50,000 people worldwide.
Sources close the business said that they had been warned that up to 8,000 jobs could be cut but that Rolls-Royce wants to minimise it as much as possible.
The company is expected to reveal its plans to staff by the end of May.